112/127-133 Leicester Street, Carlton VIC 3053

Studio one-bed | North-facing bright | Fully furnished | Heritage overlay | Student positioning This unit presents a competitively priced, turnkey entry into a tightly held Carlton block, directly aligned with persistent student rental demand. Its fully furnished state and lack of occupancy restrictions create immediate income potential, bypassing capital outlay for a target tenant cohort. The heritage overlay imposes design constraints but contributes to the area’s character and may limit new competitive supply. This property serves best as a hands-off investment for a buyer seeking yield over capital growth, given its configuration and market positioning. The primary risk is asset depreciation, evidenced by negative annual growth in several comparable sales within the same building, suggesting weak capital appreciation over holding periods. The high tenant turnover indicated by building tenure data necessitates active management and potential vacancy costs. The opportunity lies in securing the established rental yield; execute a purchase below the listed price to buffer against value stagnation. This is a hold-for-income property, not a speculative growth play. Recent sales within the same building provide a clear value benchmark: – Unit 501 (1 bed, no parking): $165,000 – Unit 807 (1 bed, 1 parking): $195,000 – Unit 312 (no bed, 1 parking): $158,000 – Unit 809 (no bed, no parking): $150,000 The $175,000 ask for Unit 112 sits appropriately between the no-bedroom and one-bedroom-with-parking sales, given its one-bedroom, no-parking configuration. The data confirms the price premium for a dedicated bedroom and the significant value of a car space in this location.